DAVOS, January 20. /TASS/. Western nations may soften sanctions against Russia because of developments in Ukraine early in 2017, ex-Finance Minister Alexei Kudrin told TASS on the sidelines of the World Economic Forum in Davos.

The ban on long-term financing of certain Russian majors, particularly Rosneft, Sberbank and VTB, is the most sensitive in economic terms, Kudrin said.

"I am more optimistic regarding sanctions’ softening now. They will not be canceled at once but some movement may start this or early next year, that is, certain sanctions may be softened or canceled," the ex-minister said.

Many Western businessmen and politicians express their hope that sanctions will be lifted soon, he added.